The Part Payment Sale Agreement is essential for transactions in the UAE where the full purchase price is paid in installments rather than as a single payment. This document type is commonly used in various commercial and consumer contexts, from real estate to equipment sales, and must comply with UAE Federal Law No. 5 of 1985 (Civil Code) and Federal Law No. 18 of 1993 (Commercial Transactions Law). The agreement typically includes comprehensive details about payment schedules, security arrangements, ownership transfer conditions, and default remedies. It's particularly important in the UAE market where partial payment arrangements are common in both B2B and B2C transactions, and where specific legal requirements exist for documenting such arrangements. The document serves to protect both seller and buyer interests by clearly defining rights, obligations, and remedies throughout the payment period.
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1. Parties: Identification and details of the Seller and Buyer, including full legal names, addresses, and registration details if companies
2. Background: Context of the sale transaction and brief description of the subject matter
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase, including description of the subject matter
5. Purchase Price: Total purchase price and breakdown of payment installments
6. Payment Terms: Detailed payment schedule, payment methods, and conditions for each installment
7. Transfer of Title: Conditions and timing for the transfer of ownership, particularly in relation to payment completion
8. Delivery: Terms and conditions for delivery of the subject matter
9. Warranties and Representations: Warranties from both parties, especially regarding ownership and condition of goods
10. Default and Remedies: Consequences of payment default and available remedies
11. Termination: Circumstances under which the agreement can be terminated and consequences
12. Governing Law and Jurisdiction: Specification of UAE law as governing law and jurisdiction for disputes
13. General Provisions: Standard boilerplate clauses including notices, amendments, and entire agreement
1. Security: Include when additional security for payments is required, such as post-dated checks or bank guarantees
2. Insurance: Include when the subject matter requires insurance during the payment period
3. Maintenance and Support: Include for sales of equipment or systems requiring ongoing maintenance
4. Third Party Rights: Include when there are relevant third party interests or rights
5. Import/Export Provisions: Include for international sales requiring customs clearance
6. Intellectual Property: Include when the sale involves items with intellectual property components
7. Confidentiality: Include when sensitive commercial information is involved
1. Schedule 1 - Subject Matter Description: Detailed description of goods or property being sold
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment amounts, dates, and methods
3. Schedule 3 - Delivery Schedule: Timeline and specifications for delivery if complex or multiple deliveries
4. Schedule 4 - Technical Specifications: Technical details and specifications of the subject matter if applicable
5. Schedule 5 - Form of Payment Security: Templates for any required payment security documents
6. Appendix A - Required Documents: List of documents required for transfer of ownership
7. Appendix B - Acceptance Criteria: Criteria for accepting the delivered goods or property
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Manufacturing
Automotive
Industrial Equipment
Technology
Construction
Retail
Heavy Machinery
Luxury Goods
Marine
Aviation
Relevant Teams
Legal
Finance
Sales
Procurement
Commercial
Risk Management
Operations
Compliance
Credit Control
Business Development
Relevant Roles
Legal Counsel
Commercial Director
Finance Manager
Sales Director
Procurement Manager
Contract Manager
Chief Financial Officer
Risk Manager
Business Development Manager
Operations Director
Credit Controller
Compliance Officer
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